Handspring Raises $12M Series A to Expand High-Quality Mental Health Care for Children and Families

Funding was led by Cobalt Ventures to help Handspring grow its evidence-based behavioral health model for families

NEW YORK, June 26, 2025 /PRNewswire/ -- Handspring, a mental health provider focused on youth, young adults, and their families through high-quality virtual therapy, has announced a $12 million Series A round. The round was led by Cobalt Ventures, with participation from NextView Ventures, nvp capital, 25madison, Arkitekt Ventures, VamosVentures, Hyde Park Angels (HPA), Cornucopian Capital, and others. Two health plans also joined the round, underscoring strong payer alignment with Handspring's clinically rigorous and cost-effective model of care.

Handspring is redefining youth mental health by building a workforce of fully employed, expertly trained therapists, addressing a national shortage of qualified pediatric providers. Unlike platforms that rely on gig-based networks with minimal oversight, Handspring invests in developing its clinicians through structured onboarding, weekly individual and group consultations, and ongoing training in evidence-based care. The Company's model includes skills-based Cognitive Behavioral Therapy (CBT), Dialectical Behavior Therapy (DBT), exposure therapy, parent coaching, and a first-of-its-kind Complex Care program designed to support high-risk youth who are often underserved, turned away from traditional outpatient services, and often unnecessarily referred to higher levels of care such as emergency departments (ED) or intensive outpatient programs (IOP).

Handspring's approach is working:

• 96% of families report improvement in daily life of their family upon discharge.
  
  
• The company maintains a Net Promoter Score (NPS) of 82, reflecting exceptional satisfaction and trust.
  
  
• 84% of patients in treatment for anxiety and 79% of patients in treatment for depression saw clinical improvement, as measured by validated clinical scales at the completion of their care.

Underpinning Handspring's care delivery is a fully integrated technology platform, including custom-built patient and provider portals, a homegrown AI-powered clinical scribe, and a therapist matching engine that ensures strong clinical fit from day one. These tools streamline operations, minimize operational overhead, and create a more seamless experience for both families and providers.

"While we've made strides in expanding access to care, we've simultaneously allowed quality standards to erode. Patients deserve more than just an available therapist – they deserve evidence-based treatment, genuine therapeutic relationships, and measurable progress toward recovery," said Sahil Choudhry, CEO and co-founder of Handspring. "This funding is so important because it helps us continue to build a system that truly cares about the long-term well-being of every child and family we serve."

Kwasi Kyei, President and co-founder, said, "Handspring is meeting the needs of children, teens, and young adults with complex challenges that many providers can't or won't treat. And it doesn't stop there — we take a whole family approach by working with parents so they can support their children outside of therapy sessions."

The company also announced that Dipa Mehta of Valeo Ventures and Rob Go of NextView Ventures have joined its Board of Directors, bringing deep expertise in digital health and early-stage growth.

The investment will be used to deepen clinical programs for complex patient populations, expand value-based care partnerships, and enhance the company's proprietary technology platform, including further development of AI tools focused on automating operations and improving outcomes of care.

About Handspring
Handspring Health is reimagining mental health care for the next generation – serving children, adolescents, young adults, and their families through structured, measurable, and evidence-based virtual therapy. With a team of licensed clinicians trained in treating anxiety, depression, OCD, ADHD, trauma, and more, Handspring empowers young people and their families to thrive. Care is personalized, timely, and grounded in outcomes – because better mental health starts with better care. For more information, visit handspringhealth.com.

SOURCE Handspring Health